In the economic way of thinking, outsourcing is another application of
A) the entrepreneurial attempt to buy low, and sell high.
B) voluntary exchange.
C) the coordination of plans across different regions.
D) the discovery of people's comparative advantage.
E) all of the above.
Question 2
In the economic way of thinking, a tropical rainforest is a scarce good. Thus,
A) there is no substitute for a tropical rain forest.
B) there is a substitute for a tropical rain forest.
C) tropical rains forests should be preserved at any cost.
D) tropical rain forests can be preserved at no cost.
E) economists don't like tropical rainforests.
Synthesis of critical thinking
Critical-Thinking Tip
Economic objectives of firms
economic question
economic question
economic question